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Search Results 0 to 7 of about 8 (some duplicates have been removed)
CBS
Dec 31, 2012 4:00am EST
. hopes of reaching a wide-ranging deal to avoid automatic tax increases and spending cuts is all but gone. without a plan in place by midnight it will cost americans an additional $536 billion. spending would be reduced by $110 billion, and the cuts would be felt in all areas of the government. economists have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal one that might spare millions of americans from paying higher taxes. danielle nottingham is in washington with the latest. dab yell, good morning to you. >> good morning, terrell, vice president joe biden is now in on negotiations. senate minority leader mitch mcconnell reached out to him sunday night after talks with democrats stalled. but with just hours go until this deadline there are still obstacles standing in the way of even a watered down agreement. lawmakers left the capitol sunday night without a deal in place, but leaders from both parties expressed their willingness t
CBS
Dec 31, 2012 4:00am PST
in automatic spending increases and tax cuts is all but gone. spending would be reduced and cuts would be felt in all areas of the government. economies have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal, one that might spare millions of americans from paying her taxes. danielle nottingham reporting now from washington. >> lawmakers are still working on it. >> i want everyo one to know i' willing to get this done but i need dance partner. >> the main sticking point between democrats and republicans continues to be over the threshold of tax increases. president obama campaigned on raising taxes on income over $250,000 while many congressional republicans have pushed back against any tax increases. president obama is placing the blame for the impasse on the gop. >> they say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest
CBS
Dec 24, 2012 4:30am EST
are on holiday break. before he went on break he called for a limited extension on tax cuts for americans. the last best hope for a deal may rest in the senate. yesterday senator lindsey graham said he would vote for a revenue increase including a tax hike, but he doesn't like it. >> hikes are part of the solution driven by the president but he's going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the americans from a tax hike, that is not a tax increase in my books. >> if there's no deal on new year's day households between $50,000 and $75,000 will see an increase of $2,399. meanwhile households with $5 money,000 $00,000 to 1 mill could see an crease of $3900. >>> overseas an attack on americans in afghanistan. police officers, over 50 have been killed by police and soldiers this year. >>> in syria a british-based human rights group said over 60 people were killed when there was an attack on a backry. yesterday's air strike was an apparent retaliation for new rebel offensive. elizabeth palmer visited the town in southern syria that'
CBS
Dec 24, 2012 4:00am EST
for a revenue increase including a tax hike, but doesn't like it. >> hikes are part of the solution driven by the president but he's going to get tax rate hikes. to my republican colleagues, if we can prevent 99% of the americans from a tax hike, that's not an increase in my book. >> households between 50 and $75,000 will see a an increase of $2,399. meanwhile households of. >>> overseas an attack on americans in afghanistan. police officer police officers, over 50 have been killed by police and soldiers this year. >>> a british-based group said over 60 people were killed. yesterday's air strike was an apparent retaliation for new rebel offensive. elizabeth palmer visited the town in southern syria. >> reporter: conflict has engulfed syria over the past 21 months from one end of the country to the other, but so far it's barely touched the town in southern syria near the border with jordan. the people who live here are a religious group that's allied itself with president bashira a assad. the regime is anxious to showcase its community showing supporters willing to reinforce the line. it's
CBS
Dec 27, 2012 4:00am PST
, the possibility for a grand bargain to avoid across-the-board tax increases and spending cuts is all but lost, and even prospects for watered down deals seems slim. tara mergener is in washington with more. tara, good morning. >> good morning, duarte. yes. hopes for legislation to avoid the fiscal cliff now turns to the senate, but white house and republicans remain far apart. senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the fiscal cliff. higher taxes will give the average american about $1,500 less to spend next year, and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everything. >> while senators try to brave the bad weather in many parts of the country in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first
CBS
Dec 26, 2012 4:00am PST
fiscal package. it would extend the bush era tax cuts for households making less than $250,000, extend long-term unemployment, short-term spending cuts, and make a scheduled drop in medicare reimbursement to doctors. house speaker john boehner said they've had no communication with senator reid. >>> the exconwho ambushed and killed two volunteer firefighters in upstate new york may have murdered his sister. her body was found yesterday, and police say william spamglor had the same kind of military rifle used in the connecticut school massacre. he left behind a chilling note. >> reporter: the christmas eve fire in western new york burned seven homes to the ground, but police say william spangler wanted to do much worse. he planned to burn down the entire neighborhood and "do what i like doing best, killing people." the 62-year-old shot at firefighters from a nearby bank. he killed two of them before taking his own life. police found his note and three guns, including a bushmaster rifle, similar to the weapon used m connecticut school shooting. >> he is a convicted felon. he had murdered
CBS
Dec 28, 2012 4:00am EST
: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1st. >> i am not optimistic. >> reporter: even congressional leaders are cemental. >> the american people have a right to be very upset with this congress. >> reporter: president obama invited pelosi, john boehner and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year. and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to slow the progress. the senate will be
Search Results 0 to 7 of about 8 (some duplicates have been removed)